India among most cost‑competitive office fit‑out markets in Asia‑Pacific: Report
New Delhi, March 14 (IANS) India’s major office markets remain among the most cost‑competitive in the Asia‑Pacific region, with mid‑spec office interior costs averaging $449 per square metre in Bengaluru, Mumbai and Delhi‑NCR, a report said on Saturday.
The report from property consultancy Knight Frank said basic fit‑out costs across leading Indian markets average $264 per square metre, while high or premium specifications are benchmarked at $838 per square metre or Rs 75,312 per square metre.
“India’s competitive labour costs, established contractor ecosystem and domestic sourcing capabilities continue to keep workplace build-out costs significantly lower than several regional markets, strengthening the country’s appeal for multinational occupiers expanding technology operations and Global Capability Centres across key office hubs,” the report noted.
Reinstatement costs remain low at about $30 per square metre, providing occupiers greater flexibility at lease exit.
The firm noted that despite chances of regional fit‑out costs rising by 2–5 per cent over the next 12 months, India continues to offer occupiers a cost-efficient workplace development environment.
The firm compared costs across 23 cities in Australasia, East Asia, Southeast Asia and India for Q4 2025 and found that competitive labour costs, established domestic supply chains and lower compliance-related expenses enable occupiers to deliver high-quality workplaces at relatively modest capital outlays in India compared with other Asia-Pacific markets, the report noted.
At a regional level, Singapore ranks as the most expensive city for office fit-outs, reflecting higher labour costs, limited contractor capacity and stringent sustainability standards.
“As occupiers focus more on efficiency, flexibility and employee-centric design, India’s ability to combine scale with cost discipline will continue to support long-term corporate expansion,” said Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India.
Across Asia-Pacific, green building certifications, energy monitoring, and tighter material compliance are raising baseline fit-out costs, the report noted.
The property consultancy estimated that the Design & Build (D&B) delivery model can compress project timelines by 20-30 per cent compared with traditional sequential delivery, a significant consideration for occupiers in fast-moving sectors.
—IANS
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